Aon Stock News

In the coming days, airlines may be cancelling and delaying more flights as a result of the scarcity of aviation fuel, which now cost between N590 and N625 per litre. Last year the fuel moved between N230 to N250 per litre across different states in the country but as of today, the price of a litre of Jet fuel in Lagos is ₦590 while in Abuja and Port Harcourt the product sells at ₦599. In Kano, the product goes for ₦625. Already airlines are finding it very difficult to carry out scheduled operations as passengers wait endlessly at the airports for their flights, some of which get cancelled at the end of the day. The Airline Operators of Nigeria, (AON) a few weeks ago hinted that on top of the continuous rise in the fuel price, fuel supply is at best epileptic at several airports thereby causing delays. AON added that supply nationally is at best unpredictable and several times a day, airlines are left waiting for fuel to be supplied at airports across the country. Read also: Airlines seen shifting to smaller planes over aviation fuel scarcity In a message to customers, Arik Air stated that On Tuesday, it had to delay almost all it’s flights across the network, while a few others have been cancelled.

Six local carriers- Air Peace, Azman Air, United Nigeria Airline, Arik Air, Aero Contractors and Max Air- have announced the ‘Spring Alliance’, to mutually support each other’s operations and surpass the expectations of the flying public. The carriers signed the alliance on Tuesday in Lagos. Chairman of Air Peace and Vice-president of the Airline Operators of Nigeria (AON), Allen Onyema, stated that the Spring Alliance is for the benefit of the passengers who fly with the six airlines. According to him: “By this alliance our passengers are protected whenever there is a problem with one airline. It is our response to the complaints of the flying public, so this alliance will enable us to satisfy them. “But with this alliance and what we are going to be doing henceforth, the flying public will reap the benefit. For example if Air Peace has a tech issue on any of its aircraft, the passengers of Air Peace need not to be delayed, if any member of this alliance is going to the same destination, all we need to do is move the passengers over to that other airline, a member of the alliance, at no further cost to the passenger”.

Brown & Brown's (BRO) decision to buy Global Risk Partners reflects its continuous effort to expand its footprint, add capabilities and boost operations.

Horace Mann's (HMN) recent dividend hike reflects solid financial foundation and operational performance.

The Federal Competition and Consumer Protection Commission (FCCPC) has commenced investigations into the fare hike by Airline Operators of Nigeria (AON), saying Civil Aviation Act and Consumer Protection Act prohibit such ‘price-fixing’. The commission said it’s investigations showed the airlines colluded to increase air fares against Section 107 (1)(a) and Section 108 of the Federal Competition and Consumer Protection Act, 2018 ( FCCPA). The AON last week came out debunking what they described as rumours that they colluded to fix N50, 000 base fares for a one-way ticket for domestic travel in the country. However, Babatunde Irukera, executive vice chairman/chief executive FCCPC, in a press statement in Abuja said the airlines were culpable as they did so in a coordinated manner stressing that the FCCPA prohibits conduct or any coordination between competitors including on the platform of trade associations. Irukera, in the statement entitled, ‘Coordinated increase in airfares by certain scheduled operators’ stated: “Specifically, Section 107 (1)(a) forbids competitors from fixing prices, and Section 108 prohibits any conspiracy, combination, agreement or arrangement between competitors in any manner that unduly restrains or injures competition”.

The Federal Competition and Consumer Protection Commission (FCCPC) says it has commenced investigations, in collaboration with the Nigerian Civil Aviation Authority (NCAA), into the fare hike by members of the Airline Operators of Nigeria (AON). The commission said its preliminary investigations showed the airlines colluded to increase airfares, contrary to Section 107 (1)(a) and Section […]

Aon (AON) buys the actuarial software platform Tyche from the technology and software firm RPC Tyche to upgrade its insurance consulting portfolio for better serving its customers.

Aon (AON) buys the actuarial software platform Tyche from the technology and software firm RPC Tyche to upgrade its insurance consulting portfolio for better serving its customers.

After struggling for nearly two years, the hospitality sector is likely to see a sharp recovery, and salary increments and hiring, which had hit a pause button two years ago, are making a comeback. Riding on the overall positive sentiment due to a resurgence in the economy, a decline in Covid-19 cases and relaxations in restrictions, executives at companies like Hyatt, PVR Group, OYO, Wow! Momo Foods and Lite Bite Foods that ET spoke to are upbeat about hiring and some are even planning better hikes.According to professional services firm Aon, employees of hotels and restaurants received no or minimal hikes in 2020, though the situation improved somewhat in 2021. "In 2022, hotels and restaurants are likely to see hikes of about 7-8% or even more, which come as a welcome relief for their employees," Roopank Chaudhary, partner at Aon, told ET.Aditya Mishra, CEO of recruitment services firm CIEL HR Services, is also seeing a fast recovery for these sectors and increments of 5-7%. Some companies are also planning to pay bonuses as a token of appreciation, Mishra added.Hospitality tech firm Oyo is currently hiring actively for technology and product roles, with a focus on AI, ML, data science, cloud & DevOps, product engineering and product design from colleges like ISB, IIMs, IITs, NIFT, MIT Institute of Design (Pune) & Industrial Design Centre (IDC) at IIT-Bombay. "One can say that technology and innovation are charting the new Oyo growth story," said chief HR officer (technology, product, global functions & international markets) Satyadeep Mishra.

American Financial's (AFG) special cash dividend of $2 per share highlights its solid financial position and constant efforts to enhance shareholders' value.

Aon plc has acquired actuarial software platform Tyche from technology and software firm RPC Tyche, which will provide re/insurers a single technology platform with the ability to seamlessly integrate capital modelling, pricing and reserving to drive better decision-making across both life and non-life business. Tyche is a specialist in developing customised risk and capital modelling […] The post Aon acquires Tyche actuarial software platform appeared first on ReinsuranceNe.ws .

Aon (AON) has acquired actuarial software platform Tyche from technology and software firm RPC Tyche.The terms of the deal were not disclosed.Tyche is a specialist in developing…

Aon has been affected by a cyber incident, the global broker updated.

The incident comes amid global concerns about malicious activity in cyberspace following Russia’s invasion of Ukraine.

MoneyGram International (MGI) expects digital transactions to grow through 2022. The diversification of product and service offerings is likely to be a major theme going ahead.